Annuities
What does selling a variable annuity require beyond a New York life license?
Answer and explanation
Answer: B. Variable annuities are securities as well as insurance contracts, so the producer needs securities registration in addition to the life license, and New York's outline lists that licensing requirement alongside SEC and self-regulatory oversight. A second appointment and a consultant license address different things.Source: PSI — New York DFS Insurance Candidate Information Bulletin — Outline, variable annuity licensing
More annuities questions
- What happens during the accumulation period of a deferred annuity?
- What is the tax feature that makes annuities attractive for retirement saving?
- What risk does a life annuity protect the annuitant against?
- Where are the assets backing a fixed annuity held?
- Which payout option produces the largest periodic income for a given sum, and why?
- Who bears the investment risk in a variable annuity?
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